Iridium Communications Inc. (IRDM) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Exhibit 99.1

FOR RELEASE THURSDAY, OCTOBER 25, 2018

IRIDIUM ANNOUNCES THIRD-QUARTER 2018 RESULTS; COMPANY

RAISES 2018 OUTLOOK

•    2018 Outlook for Service Revenue Growth Raised to Approximately 14%  

•    2018 Outlook for OEBITDA Raised to Approximately $300 Million

MCLEAN, Va. – October 25, 2018 – Iridium Communications Inc. (Nasdaq:IRDM) (“Iridium”) today reported financial results for the third quarter of 2018 and updated its full-year 2018 outlook. Net loss was $12.9 million, or $0.13 per diluted share, for the third quarter of 2018, as compared to net income of $29.3 million, or $0.23 per diluted share, for the third quarter of 2017. This decrease in net income was primarily the result of a $39.2 million increase in depreciation and amortization expense from the year-ago period, reflecting an increased number of Iridium NEXT satellites in service. Operational EBITDA (“OEBITDA”)⁽¹⁾ for the third quarter was $79.4 million, as compared to $71.8 million for the prior-year period, representing a year-over-year increase of 11% and an OEBITDA margin⁽¹⁾ of 58%. OEBITDA benefitted from higher commercial service revenue and continued strength in equipment sales.

Iridium reported third-quarter total revenue of $136.8 million, which consisted of $105.7 million of service revenue and $31.0 million of revenue related to equipment sales and engineering and support projects. Total revenue increased 17% versus the comparable period of 2017, while service revenue grew by 18% from the year-ago period. Service revenue, which represents primarily recurring revenue from Iridium’s growing subscriber base, was 77% of total revenue for the third quarter of 2018.